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Why Korea’s Social Economy Focuses on Local Communities

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A chalkboard at a local social enterprise, reflecting their deep and ongoing struggle to craft survival strategies as part of the social economy.(Photo by Milly)  There are many different perspectives on social economy. Generally, it is sometimes seen as an actor competing in the market economy, while in other cases, it is considered an economic model rooted in local communities. Many of those who are actively involved in the social economy would probably say that it is fundamentally an economy based on local communities.   😍Why Does the Social Economy Value the Local?   One main reason the social economy places importance on the local is that it often begins as a response to local issues.   For instance, in the case of social economy enterprises that aim to solve environmental problems through business, instead of taking on the grand challenge of “saving the planet,” they start with a smaller, more realistic goal like “let’s circulate our community’s wa...